How do I track a whole life insurance policy in Quicken?

Michael Hyatt

I'm using Quicken for Mac, Version 6.12.3. I’m trying to figure out how to track a whole life insurance policy. Apparently, Quicken doesn't provide a way to track this.

Perhaps I need to track it as a checking account. That way, I can transfer money to it (my payments) and the balance accumulates (cash value). I can also track withdrawals (loans), interest payments, fees, etc.

Is this the recommended approach?

Michael Hyatt

Actually, perhaps the best way to track this is as a savings account.